Irina Bordea, Marketing Manager at dekoasserts that successful content marketing strategies get results, and as marketers, it’s up to us to measure those successes.
The fintech sector is one of the most dynamic in the world. A 2020 study by Research and Markets predicts that it will grow at a CAGR of 23.58% from 2021 to 2025.
Disruptive and innovative products and services are important factors in the industry’s growth, but another key element to the success of many fintech companies is an effective marketing strategy. At the heart of these has often been content marketing. To achieve the best results, its return on investment must be measured accurately and consistently.
There are clear reasons why content marketing is such an important part of the marketing strategies of many fintech companies. Given their disruptive nature, fintechs face challenges around awareness and trust. Typically, financial marketing content is complicated and jargon-laden, but fintech brands often seek to challenge the status quo by creating a new, more accessible world, which means they need to build trust in their products and educate their audience. According Demand Measurementon average, content marketing attracts three times more leads and costs 62% less than traditional marketing.
Content marketing is particularly effective in highly competitive industries, such as retail finance, where Deko operates. As retailers want to increase sales, retail financing helps businesses offer flexible payment options at checkout. Initially, traditional retail providers represented single lenders, but more recently companies such as Deko are offering multi-product, multi-lender cash financing solutions, which ensure the best match between customer, retailer and lender. This approach increases lender acceptance rates and the range of baskets covered, with many of the companies Deko works with enjoying up to a 24% increase in conversions. Given the complexity of our offering, we rely on content to educate and ensure our value proposition stands out from the crowd.
Set clear and concise goals
To be effective, the content strategy you implement must help define the value your business will add to the consumer. There are several types of content that need to be included in your strategy to ensure success – whether it’s long-form educational blog content, short social media posts, or email marketing. Setting clear and concise goals will make it easier to measure your return on investment because you’ll know what to look for.
Content marketing requires constant effort. You’re unlikely to see clear results as soon as you start posting a few blogs or writing an e-book about your products and services. However, if you stay persistent and have a good strategy in place, it will only be a matter of time before you start seeing a return on your investment. Relevant, value-added content that benefits customers and drives them to visit your website repeatedly is essential. Additionally, it is important to ensure that the content strategy and the content itself is SEO optimized and easily visible on Google, which comes with a high performing website.
Use tracking tools
There are a wide variety of useful tools, such as Google Analytics, that can help you track your content marketing ROI. You can track the number of sessions, traffic, and how long people stay on a page — pretty much anything content-related. UTM codes, for example, allow you to examine where users are coming from when they click on a link.
This allows you to gauge the success of content pieces based on their ability to drive traffic to the most important parts of your website, such as product pages and checkout areas.
Analyze the results of your efforts
In a perfect scenario, your content marketing efforts will lead to direct sales. Yet, because content marketing happens in the early stages of the sales funnel, that’s not always the case. Thus, you cannot anticipate a guaranteed increase in sales volumes from a blog post, email, or social media post.
What you can do is use a tracking and attribution tool to monitor interest and understand how your content is influencing your end results. How many subscriptions do you receive from your newsletter? Is your follower count growing on your social media platforms? How much time do people spend reading your blog posts? Finding the answers to these questions can give you a clearer picture of the profitability of your content marketing efforts.
Factors such as sign-ups and increased subscribers may not immediately translate to increased sales, but through this engagement with your customers, you are taking an important step in building the brand and your reliability, which over time will translate into increased sales.
Ask for feedback
Not all ROI metrics need to be based on quantitative data. Asking for regular feedback from your customers and peers will ultimately help you better understand the impact of your content marketing strategy on its targets.
The beginning of your content marketing efforts will be very different from the end result. Indeed, over time, you must use all your acquired knowledge to adapt and adjust your strategy to reflect the knowledge you have acquired during your research. This is why reviews are necessary to create an effective content marketing strategy and provide a detailed measurement of ROI.
Monitor metrics to continuously improve
Content marketing is a great way to boost your online or physical store efforts and build a larger customer base. By tracking your ROI metrics, you can ensure that you’re continually improving how you reach customers and discovering new ways to offer them even better products and services.